Citi UAE Launches Recycled Plastic Corporate Cards

Published on: 18 July 2022 11:34 AM
merlin 178412121 d22d441c-2e6c-4da4-a7a1-0c70be657bfe-superJumbo

Recycled PVC (rPVC) has been introduced by Citi for its corporate cards, the company said. The rollout of rPVC began in Europe, the Middle East, and Africa (EMEA) region in Q2 2022.

One of the first EMEA markets to introduce and distribute rPVC corporate cards for its corporate customers was the United Arab Emirates (UAE). Over 2,100 new rPVC cards have already been given out to Citi consumers by Citi UAE.

Every rPVC card represents a decrease in CO2 emissions during the card production process, reducing 36% CO2 emissions compared to a regular PVC card. 

Citi is committed to attaining net zero emissions for operations by 2030 and net zero emissions for financing by 2050. The emphasis is on the environmental effects of its processes and how it may offer sustainable products and solutions with these objectives in mind.

Vivek Vaidyanathan, Citi Treasury and Trade Solutions Head, Citi UAE commented: 

“At Citi, we are pleased to introduce rPVC across our corporate cards portfolio in the UAE. Our main focus is on reducing our carbon footprint and the use of rPVC for our cards is just one of the sustainable initiatives helping us to achieve this goal. As we are moving towards digital, rPVC cards provide an eco-friendly alternative to the use of physical cards where required, that substantially reduce potential adverse impacts on the environment."

Andrew Pugh, Vice President and Head of Global Key Accounts, Eastern Europe, Middle East and Africa, Mastercard, said: 

“In the quest to secure a more sustainable future for everyone, both responsibility and success are shared. Citi is setting an inspiring example for positive environmental action by providing rPVC corporate cards, and we are proud that our long-standing partnership reflects a shared passion to protect our priceless planet. Every climate-conscious choice matters and every person and business can be part of a greener tomorrow. As we continue to raise the bar for ourselves and prioritise ESG action to reach net-zero emissions by 2040, Mastercard is honoured to collaborate with industry leaders to build a more sustainable digital economy for all."

Shahebaz Khan, General Manager for UAE, Bahrain & Oman at Visa, said: 

“Citi’s decision to use rPVC for their corporate cards will help individuals and businesses alike to reduce their environmental footprint. It’s every action like this one — making sustainability central to our decisions - that boosts us on our path to net-zero emissions by 2040. At Visa, we are working across our products, network, and partners to enable consumers and businesses to make the sustainable choices they want to make, that is why we are proud to be part of this journey and partner with Citi to make better use of the world’s resources.”

Source: Zawya

For more environmental news

More from Citigroup Inc.